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translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has already passed. the laws that it's already passed. republicans are saying it's about borrowing authority. essentially running up the country's credit card. >> exactly. what the republicans are saying is look, we maxed out the credit card. it's time before we extend any new credit or allow any new credit to do something aboutbe the spending that got us here. that would seem on the surface to be a reasonable argument. but so far, the republicans have not been able to win it. and what tends to happen in the fights when you get all of this late hour melodrama as we have had in the last cou
translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has...
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Jan 16, 2013
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we're headed for a debt ceiling battle is to avoid the debt ceiling itself. congressman jerry nadler joins me now and introducing the legislation today. in full disclosure he is my congressman. you do a hell of a job in your district. we're very happy with you there. >> thank you. david: i do set this that up as a compliment to criticize you, i look at a debt ceiling which started at 10 billion, 10 trillion dollars when the president came into office. it is now $16 trillion. don't we need restraint of a debt ceiling to prevent the spending from even going further? >> no. and it doesn't restrain spending at all. congress makes the decisions as to what to spend, what the level of taxation should be, what the level of spending should be. the debt ceiling is just there and, says you can not pay the bills that you voted to incur a year ago and two years ago and three years ago. and that is just wrong. now it used to be harmless in that the debt ceiling would be raised with a little demagoguing here and there but no one ever seriously suggested not raising it. it w
we're headed for a debt ceiling battle is to avoid the debt ceiling itself. congressman jerry nadler joins me now and introducing the legislation today. in full disclosure he is my congressman. you do a hell of a job in your district. we're very happy with you there. >> thank you. david: i do set this that up as a compliment to criticize you, i look at a debt ceiling which started at 10 billion, 10 trillion dollars when the president came into office. it is now $16 trillion. don't we need...
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Jan 14, 2013
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debt ceiling, he's going to make his statement that he's not going to use the debt ceiling as a bargaining chip. but we've got to get to sitting down and working out a deal that's going to really address the nation's problems. we've got to do something about guns. he's got to stake out some territory in which the white house won't retreat from. >> chip, how much is this a sell of the american people? >> well, i mean, i think right now as kind of like the governor said, set the tone. >> forgive me for interrupting but the president is out now in the eastern room. let's take a listen. >> good morning. i thought it might make some sense to take some questions this week as my first term comes to an end. it's been a busy and productive four years, and i expect the same for the next four years. i intend to carry out the agenda that i campaigned on, agenda for new jobs, new opportunity, and new security for the middle class. now, right now our economy is growing and our businesses are creating new jobs. so we are poised for a good year if we make smart decisions and sound investments. and as long
debt ceiling, he's going to make his statement that he's not going to use the debt ceiling as a bargaining chip. but we've got to get to sitting down and working out a deal that's going to really address the nation's problems. we've got to do something about guns. he's got to stake out some territory in which the white house won't retreat from. >> chip, how much is this a sell of the american people? >> well, i mean, i think right now as kind of like the governor said, set the tone....
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okay, charles, start with the debt ceiling talk. what you heard from the president. >> the tone was remarkable. he talk about the republicans being suspicious of the social security and medicare by the oldest saw that you could hear. then he added making sure empovrished children get food. that's over the top. he said i love to hang out with a congressional picnic at these people who want to starve america's chirp. interesting ini havation. then he went over and over on the debt ceiling and he must have gone through the same idea 15 times. saying this is about honoring the obligation and paying the bills we have already incured. he raised the debt ceiling on how to depend on the ongoing financial assistance from the foreign country to finance the reckless, fiscal pollty. the point of raising the debt ceiling is to allow to us borrow. he talked about the debt ceiling a dozen times. not once did he use the word "borrow." that means we are going to continue to borrow for every dollar the government spend, only 60 cents of it come from
okay, charles, start with the debt ceiling talk. what you heard from the president. >> the tone was remarkable. he talk about the republicans being suspicious of the social security and medicare by the oldest saw that you could hear. then he added making sure empovrished children get food. that's over the top. he said i love to hang out with a congressional picnic at these people who want to starve america's chirp. interesting ini havation. then he went over and over on the debt ceiling...
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one would be the debt ceiling. the second is the expiration of the continuing resolution that funds an agreement. if you can't reach an agreement, then you'd have a government shutdown. neither one of these outcomes is good. one though is immediately and totally catastrophic. that's the debt default. if republicans now -- if blackburn's comments maybe are indicative of something, if republicans now are moving away a little bit from the threat of the debt default and are now talking about the shutdown and the continuing resolution in this totally screwed up washington that we have right now with all these perverse incentives, that actually does represent progress if republicans are now only talking about a government shutdown and not a debt default. >> do you agree with that? >> i mean, not really. i know what you're saying but i don't really think we should give a lot of rewards. we citizens, we the political class, or we the media for different strains of this kind of leverage. i think the problem and it was in a
one would be the debt ceiling. the second is the expiration of the continuing resolution that funds an agreement. if you can't reach an agreement, then you'd have a government shutdown. neither one of these outcomes is good. one though is immediately and totally catastrophic. that's the debt default. if republicans now -- if blackburn's comments maybe are indicative of something, if republicans now are moving away a little bit from the threat of the debt default and are now talking about the...
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the issue is not the debt ceiling. the issue is the fundamental core problems of the country and the inability of our congressional leaders and our political class to actually solve them. >> neil: how is it that you are home to some of best? >> they are good for you. >> neil: ron shaich, just a message from wall street. okay. did you hear the one about teacher did not like her students and thoughts about a phobia that is now a lawsuit. we're going try this. what do we want to build next ? that's the question. every day. when you have the most advanced tools, you want to make something with them. something that helps. helps safeguard our shores. helps someone see through a wall of fire. helps those nowhere near the right doctor stand a chance. ... feeling in the extremities ? no. technology can do that. who can tell me the third life cycle stage of the frog ? it can take a sick kid to school. nathan. tadpole. and help ensure a constant supply of clean energy. the things we build share one belief. that the world's bigges
the issue is not the debt ceiling. the issue is the fundamental core problems of the country and the inability of our congressional leaders and our political class to actually solve them. >> neil: how is it that you are home to some of best? >> they are good for you. >> neil: ron shaich, just a message from wall street. okay. did you hear the one about teacher did not like her students and thoughts about a phobia that is now a lawsuit. we're going try this. what do we want to...
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susan collins believes the debt ceiling must be raised. we have seen how the debt ceiling can be raised without a battle. the first read today, this is an interesting development that perhaps will expedite this debt ceiling battle. >> we have a lot more twists and turns to come in the battle. one of the best predictors of whether one side will win or lose and how unify and united that side is. we are seeing fizzures among republicans and conservative writers as well as gop interest groups who are saying we shouldn't pick a fight when it comes to the debt ceiling. maybe it's better to pick a fight over shutting the government down rather than risking the default of the government when it comes to raising the debt ceiling. this is a significant development. it shows a lot of people thought we were looking ahead to the debt ceiling and the republicans had a lot more leverage. that can call it into question. >> that are sounds like the president describes. i use the word lurching to the next crisis ahead. it was the fiscal cliff and then it wa
susan collins believes the debt ceiling must be raised. we have seen how the debt ceiling can be raised without a battle. the first read today, this is an interesting development that perhaps will expedite this debt ceiling battle. >> we have a lot more twists and turns to come in the battle. one of the best predictors of whether one side will win or lose and how unify and united that side is. we are seeing fizzures among republicans and conservative writers as well as gop interest groups...
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Jan 13, 2013
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that's the debt ceiling. keep it in mind, the treasury does not make decisions about how the money is spent. they're simply empowered in this case to borrow money and write the checks to pay the bills incurred by your democratically elected congress. today the debt ceiling is $16.3 trillion which is less than our debt. the treasury can use extraordinary measures to raise an extra $200 billion. those extra funds will only last until about mid february or early march according to the bipartisan policy center. good luck trying to explain this to conservative talk radio show host, rush limbaugh. >> i think it's a debt limit as your monthly credit card limit. you can't go over it on your credit card. and the united states government can't spend more than what its credit limit is or its debt limit. now ali velshi at cnn says that has no relation to spending. >> that's right, rush, the debt ceiling was create sod the congress wouldn't constantly need to authorize congress to borrow to raise more money. it doesn't au
that's the debt ceiling. keep it in mind, the treasury does not make decisions about how the money is spent. they're simply empowered in this case to borrow money and write the checks to pay the bills incurred by your democratically elected congress. today the debt ceiling is $16.3 trillion which is less than our debt. the treasury can use extraordinary measures to raise an extra $200 billion. those extra funds will only last until about mid february or early march according to the bipartisan...
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he says he won't negotiate on the debt ceiling. all sorts of politicos and savants are talking about a government shutdown. in tonight's "chalk talk", we tell you the truth. and we will call him some trouble waters. plus new warnings about a downgrade of the u.s. debt. a familiar tune with the voice of doom. will the markets take them seriously this time citigroup's ♪ ♪ ♪ [ male announcer ] you don't have to be a golf pro to walk like one. ♪ when you walk 10,000 steps a day, it's the same as walking a professional golf course. humana. health and well-being partner of the pga tour. lou: let's take a quick look at what is happening to the markets and the economy. fitch is warning of a possible u.s. downgrade the debt ceiling talks drag on. citigroup had will join us here in just moments. retail stocks rolling up better than expected holiday sales season. the dow jones industrials up 27 points on the day. the s&p managed a point gain but still reaching anoer five-year high. the nasdaq is down six, that is only slightly from ye
he says he won't negotiate on the debt ceiling. all sorts of politicos and savants are talking about a government shutdown. in tonight's "chalk talk", we tell you the truth. and we will call him some trouble waters. plus new warnings about a downgrade of the u.s. debt. a familiar tune with the voice of doom. will the markets take them seriously this time citigroup's ♪ ♪ ♪ [ male announcer ] you don't have to be a golf pro to walk like one. ♪ when you walk 10,000 steps a day,...
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ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with that 2006 vote. there is one very big difference between now and 2006. 2006 there wasn't this kind of big protracted battle over the debt ceiling at all. it wasn't a big issue. i was covering politics for nbc at the time. the debt ceiling increase was seen as a procedure and a very partisan vote then but not something you were reporting on for weeks and months like we have in 2011 then and now on the debt ceiling debate and, of course, what happened in 2011 was a loss to the nation's credit rating. there's big differences between
ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with...
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it would be great to control the debt with the debt ceiling. as you see through history, examples given it doesn't work at all. it becomes a political football, the other party not it in power, decides it's an of important thing. and president obama used to hate the debt ceilings. it's time to build something that controls the deficit properly and not arbitrary. >> brenda: toby, doesn't this basically give a blank check to washington saying we don't need a limit. at least when we have a limit we're forced to look at that number and realize how much we're borrowing. >> if that logic were true, they wouldn't have passed any of the spending stuff. first off, two countries in the world, united states and sweden who have a debt ceiling. people got rid of it, because what jonas is saying, it's political. and the second issue is, i don't want our economy held hostage and run by washington, right now, the buffoons in congress have more power over the economy with the, you know, stupid idea. if we give them this type of power we've hurt ourselves, kick
it would be great to control the debt with the debt ceiling. as you see through history, examples given it doesn't work at all. it becomes a political football, the other party not it in power, decides it's an of important thing. and president obama used to hate the debt ceilings. it's time to build something that controls the deficit properly and not arbitrary. >> brenda: toby, doesn't this basically give a blank check to washington saying we don't need a limit. at least when we have a...
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he says he won't negotiate on the debt ceiling. all sorts of politicos and savants are talking about a government shutdown. in tonight's "chalk talk", we tell you the truth. and we will call him some trouble waters. plus new warnings about a downgrade of the u.s. debt. a familiar tune with the voice of doom. will the markets take them seriously this time citigroup's global head joins us with the answer the boys use capital one venture miles for their annual football trip. that's double miles you can actually use. tragically, their ddy got sacked by blackouts. but it's our tradition! that's roughing the card holder. but with the capital one venture card you get double miles you can actually use. [ cheering ] any flight, anytime. the scoreboard doesn't lie. what's in your wallet? hut! i have me on my fantasy team. at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and
he says he won't negotiate on the debt ceiling. all sorts of politicos and savants are talking about a government shutdown. in tonight's "chalk talk", we tell you the truth. and we will call him some trouble waters. plus new warnings about a downgrade of the u.s. debt. a familiar tune with the voice of doom. will the markets take them seriously this time citigroup's global head joins us with the answer the boys use capital one venture miles for their annual football trip. that's...
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trimg the deficit should be separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is a america will pay its bills. we are not a deadbeat nation. >> john boehner said the american people do not support raising the debt ceiling without reducing government spending at the same time. >> listen to this. a medical scare in a buffalo, new york veteran's hospital. many may have been exposed to hiv. the pens are designed to be used by one person, but many of them were used on multiple people. >> surfers, beware. you have to look at this video. it's shocking. >> standing on the shore? >> he has his toes in the water. two sharks were spotted dangerously close to shore in honolulu. this was off of oahu. they are like ten feet offshore. >> i will call him a dingaling if he is in the water. >> he's a hero. >> there is flooding and ice. from the weather center, you said snow is on the way as well? >> that's right. it's coming to you guys. it's coming into a north and west of new york into connecticut as well. that's not today's concern. we have the s
trimg the deficit should be separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is a america will pay its bills. we are not a deadbeat nation. >> john boehner said the american people do not support raising the debt ceiling without reducing government spending at the same time. >> listen to this. a medical scare in a buffalo, new york veteran's hospital. many may have been exposed to hiv. the pens are designed to be used...
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Jan 21, 2013
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ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a sign of leadership failure, it's a sign that the u.s. government can't pay its own bills, it's a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies. leadership means that the buck stops here. instead, washington is shifting the burden of bad choices today on the backs of our children and grandchildren, therefore intend to oppose the effort to increase america's debt limit. in 2008, candidate obama blamed president bush and called the growing debt unpatriotic. >> number 43 added 4 trillion dollars by his lonesome so that we no
ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a...
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there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there are more than one battle happening. where do you think the negotiations should take place? should be the debt ceiling or the continuing resolution to fund the government or sequestration? caller: the continuing revolution to keep the government going -- resolution. there are many departments we don't need. i was showing my grandchildr the debt clock, telling him how much money he would know when he becomes a taxpayer. he said he does not want to become a taxpayer. this is taxation without representation. they have to get this under control. they need a dyiet. host
there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there...
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here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york stock exchange. we can't seem to find our footing. nicole: interestingly enough we are not too far off of the unchanged line but we are up six of the last eight trading weeks. hovering around five year highs. as you noted early on, talk a lot about boeing weighing on the dow jones industrials today play with one issue after another. the s&p 500 down one point at 1471. it is also earning season. how they are faring. they came out obviously earnings-per-share eating earnings slightly miss. a new high for dell. and all those names are lower. continue to follow earnings here all week on fox business
here's one way washington can avoid the debt ceiling showdown, get rid of the debt ceiling altogether. tracy: and grounded, and other emergency landing for boeing's dreamliners. planned as the top two airlines stopped planes from flying altogether. lori: on a post-it note just isn't enough. employee who allegedly stole $400,000 worth of copy machine toner and resold it on the black market. you have to hear it to believe it. tracy: top of the hour. nicole petallides on the floor of the new york...
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ceiling. >> we've always raised the debt ceiling. we should pay our bills as the president said, we're not a dead-bet country. i'm glad they finally saw the light. we need to pay our bills and move forward. there is a stronghold of 75 republican tea party members who quite frankly do listen to the tea party in many ways, and hopefully this is a signal that they too need to understand that this should not be an issue. it should not be held honestly. hostage. we should raise the debt ceiling. that's an automatic. we should move forward and talk about how we create jobs. by creating jobs we reduce the deficit. >> jennifer: i'm take taking it as an encouraging sign that the tea party can be moved by public voices. if they can be moved on the debt ceiling of all things, maybe they could be moved on guns. you wrote in the "huffington post," advocating reducing defense spending so you can spend more money and invest in the united states. the question is in the negotiations in congress over the spending do you see that happening? >> we've go
ceiling. >> we've always raised the debt ceiling. we should pay our bills as the president said, we're not a dead-bet country. i'm glad they finally saw the light. we need to pay our bills and move forward. there is a stronghold of 75 republican tea party members who quite frankly do listen to the tea party in many ways, and hopefully this is a signal that they too need to understand that this should not be an issue. it should not be held honestly. hostage. we should raise the debt...
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ceiling soon compare our debts and bills . that is the right way to do it. and the i think that is what will eventually happen, but i don't think that going off in another direction would really be all that talk -- all that helpful. >> hello, chairman bernanke. i am a second year in pp at the force cool and studying for a graduate certificate in science and technology. second question from the audience, does the debt ceiling of a practical purpose? could it be eliminated without much consequence? >> does what have? >> the debt ceiling. >> it does not really have. it has symbolic value i guess, but no other country, i believe, maybe one or two other, but no other countries in the world have this particular institution . to so everyone understands what is, the congress appropriates $100, tells the government to spend $100 on whenever and then it raises $80 in revenue through its tax code. now, the arithmetic here sort of says, you have to borrow $20. shephard -- the congress has to give a third rule. if the congress is approving
ceiling soon compare our debts and bills . that is the right way to do it. and the i think that is what will eventually happen, but i don't think that going off in another direction would really be all that talk -- all that helpful. >> hello, chairman bernanke. i am a second year in pp at the force cool and studying for a graduate certificate in science and technology. second question from the audience, does the debt ceiling of a practical purpose? could it be eliminated without much...
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and let's take it to them on the debt ceiling. that is what we'll do on the debt limit. that is where we'll fight the battle. that is where we're take it to obama, that is where we'll make him pay and get the spending cuts. remember that? that is where we're at. we're now at the debt limit. and guess what? this is not the time to fight this battle. we can't win anything on the debt limit. and when we get to march and the continuing resolution -- you know what, what will be said then? this is not the hilda fight, we don't want to be responsible for people not getting their social security checks. we don't want to be blamed for it. >> joining me now are ryan grim, washington bureau chief for "huffington post," ryan, so really, they on the debt ceiling, if all the democrats voted to raise it they would only need 18 republican votes to raise it. is that the kind of thing we're going to see happen? >> i mean, you're either going to see that or a complete and total cave. but i don't think you will see a complete and total one, because you have the tea party still hanging aroun
and let's take it to them on the debt ceiling. that is what we'll do on the debt limit. that is where we'll fight the battle. that is where we're take it to obama, that is where we'll make him pay and get the spending cuts. remember that? that is where we're at. we're now at the debt limit. and guess what? this is not the time to fight this battle. we can't win anything on the debt limit. and when we get to march and the continuing resolution -- you know what, what will be said then? this is...
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it's also going to be a play we know there's could be a fight over the debt ceiling. in the past the debt ceiling reminded folks we were borrowing too much and we needed to make changes. it could be a useful reminder not if it goes as far as people really start to worry about in the u.s. government and economic damage which is what we saw last time. the third piece of the resolution the fact that government spending is going to expire and these three issues is another kind of fiscal cliff and the question is is it going to force action with the hardest pieces that are still remaining were the fact when it comes to the fiscal clef they still for all intensive purposes it's good we didn't go over the fiscal cliff, it's good we raise revenue, but we basically did what we always do in washington which is we punted all the hard choices and a sort of tried to declare a bipartisan victory. but it wasn't theirs of the question was what's going to make these next action forcing moments more effective in getting us to take on the policy and this was a part of your question that
it's also going to be a play we know there's could be a fight over the debt ceiling. in the past the debt ceiling reminded folks we were borrowing too much and we needed to make changes. it could be a useful reminder not if it goes as far as people really start to worry about in the u.s. government and economic damage which is what we saw last time. the third piece of the resolution the fact that government spending is going to expire and these three issues is another kind of fiscal cliff and...
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i just want to come back to the debt ceiling. you said you wouldn't in this on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy, and you did. as you say now that you're not going to negotiates on the debt ceiling this year, why should house republicans take that seriously and say if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, let's take the example of this year and the fiscal cliff. i didn't say that i would not have any conversations at all about extending the bush tax cuts. i just said we wouldn't extend them for the wealthy. we didn't. you can argue that during the campaign i said -- i set the criteria for wealthy at $250,000, and we ended up being at $400,000, but the fact of the matter is millionaires and billionairres are paying significantly more in taxes just as i said. so for, you know, from the start, my concern was making sure that we had a tax code that was fair and it protected the
i just want to come back to the debt ceiling. you said you wouldn't in this on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy, and you did. as you say now that you're not going to negotiates on the debt ceiling this year, why should house republicans take that seriously and say if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, let's take the example of...
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the one thing to remember is it's not just the debt ceiling. it's these automatic cuts that are scheduled to take place march 16789 the debt ceiling isn't their only opportunity to try to get the president to agree to cuts. there are looming deadlines. so i think the republicans will get obama to agree to some cuts, even if we don't have a really economically damaging showdown. chris: how are we going to deal to entitlements? i don't think liberals want to do much. who is going to do it? >> we don't have to do it immediately, and that's an important point. conservatives don't either. the conservative base right now is an older base. it's people in their 50's and 60's, people who say i'm really worried about the deficit. don't touch my medicare or social security. chris: that it? indicated stuff. >> the entitlement stuff is a really big problem. there are a lot of liberals who go too far in denying it's a problem, but it's not an immediate problem. interest rates remain low. we have a little bit of time. chris: now for some fun. we're all lookin
the one thing to remember is it's not just the debt ceiling. it's these automatic cuts that are scheduled to take place march 16789 the debt ceiling isn't their only opportunity to try to get the president to agree to cuts. there are looming deadlines. so i think the republicans will get obama to agree to some cuts, even if we don't have a really economically damaging showdown. chris: how are we going to deal to entitlements? i don't think liberals want to do much. who is going to do it?...
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Jan 21, 2013
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ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a sign of leadership failure, it's a sign that the u.s. government can't pay its own bills, it's a sign that we now depend on ongoing financial assistance from foreign countries to finance our government's reckless fiscal policies. leadership means that the buck stops here. instead, washington is shifting the burden of bad choices today on the backs of our children and grandchildren, therefore intend to oppose the effort to increase america's debt limit. in 2008, candidate obama blamed president bush and called the growing debt unpatriotic. >> number 43 added 4 trillion dollars by his lonesome so that we no
ceiling. >> so i want to be clear about this, the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending, it simply allows the country to pay for spending that congress has already committed to. >> mike: well, according to the congressional record, in 2006, then senator barack obama had this statement just before a debt ceiling vote and i quote, the fact that we are here today to debate raising america's debt limit is a...
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Jan 15, 2013
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the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. it went part of the way, as you mentioned. but it leaves a number of issues still on the table and traditional negotiations are looming. would you characterize that as an additional cliff that is facing us? or do you think it
the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in...
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ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >> but the chairman was fairly upbeat on the outlook for u.s. growth. but, gave no clear hints on when the fed would curb its aggressive bond purchases. we'll have more on the debt ceiling in the next hour when we speak to senator rob portman. you guys, wilbur, you also said we have -- we are fully ready with inflation, we have all the tools we need to exit. >> well, i caution a little bit. historically the fed has always bought short-term paper and it's easy then to raise the interest rates. again you let the paper roll off, you sell it. now they've been buying long-term paper. rates start to go up, fed cou
ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >>...
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Jan 14, 2013
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he's not negotiating over the debt ceiling. michael, is this more of what we're going to hear from him today? is he going to lay the groundwork for the battle ahead? >> i think so. to some degree i think what's happening is a game of chicken unfortunately. i know the financial markets hate it. and it kind of turns your stomach a little bit. but obama has said we're absolutely not negotiating over the weekend a significant event when the treasury department ruled out this kind of fantastical sounding option of minting a trillion dollar platinum coin. so they've closed yet another door, and he's essentially said, you know, i'm just not playing ball. i read that politico story today as very interesting. it could be john boehner's camp saying we can't control the far right wing. it could also be a little bit of a bluff. it may be that boehner really feels that way or maybe he wants the white house the think he feels that way and it could be, again, part of this grand game of chicken. everyone is positioning right now. that's what's
he's not negotiating over the debt ceiling. michael, is this more of what we're going to hear from him today? is he going to lay the groundwork for the battle ahead? >> i think so. to some degree i think what's happening is a game of chicken unfortunately. i know the financial markets hate it. and it kind of turns your stomach a little bit. but obama has said we're absolutely not negotiating over the weekend a significant event when the treasury department ruled out this kind of...
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we expect him to talk about the debt ceiling. we're going to bring his comments to you live. >>> it's been one month since the tragic shooting at sandy hook elementary school. politicians at the state and federal level are scrambling to find ways to end gun violence in america. and one of them maryland governor martin o'malley outlined plans for what he says would be the toughest gun laws in the country. >> this would be a comprehensive legislative package to prevent gun violence and it addresses not only the guns but mental health and school safety. briefly, it will ban military assault weapons that have no place on the streets of baltimore or no other neighborhood in our state and it will limit the size of magazines in order to make it harder for criminals to gun down in succession police officers or school children. >> that might work for a state like maryland, a very blue state, but maybe not so much at a federal level. david keane, the president of the national rifle association, says, yeah, it will be a whole different stor
we expect him to talk about the debt ceiling. we're going to bring his comments to you live. >>> it's been one month since the tragic shooting at sandy hook elementary school. politicians at the state and federal level are scrambling to find ways to end gun violence in america. and one of them maryland governor martin o'malley outlined plans for what he says would be the toughest gun laws in the country. >> this would be a comprehensive legislative package to prevent gun violence...
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they could default on the debt, unless the debt ceiling is raised. republicans want the president to cut spending before they i gree on a deal. but the president at no time seem eager for compromise. listen. >> we have to stop lurking from crisis to crisis to crisis. when there is a clear pass that requires discipline, responsibility and compromise. >> dana: yet, he showed little willingness to do so. >> i'm willing to compromise and find common ground over how to reduce the deficit, america cannot afford another debate with this congress about whether or not they should pay the bills they have racked up. what i will not do is to have that negotiation with gun at the head of the people. >> dana: interesting choice of words to describe that. eric, you talked about not wanting the country to lurch from crisis to crisis. most americans would agree and want washington to fix fundamental problems. why do we have to have the debate every three months? >> eric: sure. start with the debt ceiling and how it came about. prior to world war i, everybody was paid
they could default on the debt, unless the debt ceiling is raised. republicans want the president to cut spending before they i gree on a deal. but the president at no time seem eager for compromise. listen. >> we have to stop lurking from crisis to crisis to crisis. when there is a clear pass that requires discipline, responsibility and compromise. >> dana: yet, he showed little willingness to do so. >> i'm willing to compromise and find common ground over how to reduce the...
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ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members are among the group of democrats meeting with vice president biden about gun control. the vice president could turn over his proposals to president obama as early as tomorrow. >> a month ago today, the shooting massacre at sandy hook elementary school shocked the nation. and re-ignited a fierce battle over america's relationship with guns. tomorrow, vice president biden will recommend a robust gun control game plan to president obama including stronger background checks for all gun purchases, a ban on high capacity magazine clips, and a renewed ban on assault weapons. >> my starting poi
ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. we are not a deadbeat nation. >> house republicans want spending cuts as part of a deal to lift the debt ceiling. without an agreement the country has until around march 1 before it may not be able to meet financial obligations. >> today is the one month anniversary of the deadly school shooting in newtown, connecticut. in washington, bay area members...
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Jan 16, 2013
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rid of the debt ceiling. most countries don't have a debt ceiling. you still need votes from congress to authorize spending. you couldn't just borrow willy nilly anyway. the simple fact is the debt ceiling is the one time in the legislative process where you actually get a bill. everyone having all this contest of whose analogy is right, whether it's a family with a budget, whether it's this. or that, whether it's dining and dashing as the president likes to say. the debt ceiling is the moment you get the credit card bill and it's the only moment. and if you can't have a sort of reckoning about your spending habits when you see your credit card bill you're never going to have that reckoning. i'm in favor of it. i'm in favor of any speed bumps towards more spending and this is as good as any. jon: the president was talking about it at his news conference the other day. i want to play something that he had to say and get your reaction. >> if congressional republicans refuse to pay america's bills on time, socia
rid of the debt ceiling. most countries don't have a debt ceiling. you still need votes from congress to authorize spending. you couldn't just borrow willy nilly anyway. the simple fact is the debt ceiling is the one time in the legislative process where you actually get a bill. everyone having all this contest of whose analogy is right, whether it's a family with a budget, whether it's this. or that, whether it's dining and dashing as the president likes to say. the debt ceiling is the moment...
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i think what -- most countries in the world don't have a debt ceiling. when government -- when the congress and their equivalent appropriates the money, the government has the borrowing authority to pay for the imra money they borrow. ben bernanke said yesterday, we have to stop having these dibait overs the debt ceiling, it's a stupid idea. the head of the federal reserve. i think the democrats are frustrated. i think that's why they passed this bill -- >> neil: where was their frustration 7 years ago, when the folk who is were urging this very action today voted against raising the debt ceiling when george bush was president? where was the great constitutional resolve? >> i don't disagree with ow this. there are politics on both sides. i don't think anyone thinks this is going to pass. let's be clear. but there is growing frustration about the way the republicans are using this to go around the normal committee process -- >> neil: what were they doing seven years ago? were they going around the republican president to get their way? >> no. at the end o
i think what -- most countries in the world don't have a debt ceiling. when government -- when the congress and their equivalent appropriates the money, the government has the borrowing authority to pay for the imra money they borrow. ben bernanke said yesterday, we have to stop having these dibait overs the debt ceiling, it's a stupid idea. the head of the federal reserve. i think the democrats are frustrated. i think that's why they passed this bill -- >> neil: where was their...
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Jan 21, 2013
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let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> a bill that says regardless of what happens with the debt ceiling, the united states will never default on the debt, would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the mcconnell act. >> we may have just made news. >>> last week, general colin powell was here worried about a dark vein of intolerance in republican quarters. you are part of a stream of new faces in the republican party, minority faces and voices in the party that seem to stand against that. how did you respond to it? >> well, i saw that interview. i respect general powell a great deal. i was disappointed with those comments. i think he was buying into some of the partisan attacks. if you look at this last election, for example, i think the most racially divis
let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> a bill that says regardless of what happens with the debt ceiling, the united states will never default on the debt, would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the...
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Jan 16, 2013
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to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others. we've never tried that before. >> host: is it feasible? >> guest: i don't think so. which bills? social security? veterans? people out fighting for this country? which bills do you pay? we never tried that. i think the president put it so well. this is not a debt beat nation, really, and i think common sense is likely to prevail within the republican ranks. i know, if i might say so, if not firsthand, second hand, that the leadership within the house republican caucus, not all of it, i think some of it realizes that the potential consequences. >> host: if president obama won, so to speak on the fiscal cliff deal and got taxes increase, able to get new revenue, then why not, as democrats, agree to some spending cuts that republicans want? >> guest: well, the president made clear that there has to be, in terms of what's coming, there has to be a mixture, a balance between cuts and revenues. in terms of the sequester, we're going to have to hav
to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others. we've never tried that before. >> host: is it feasible? >> guest: i don't think so. which bills? social security? veterans? people out fighting for this country? which bills do you pay? we never tried that. i think the president put it so well. this is not a debt beat nation, really, and i think common sense is likely to prevail within the republican...
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Jan 16, 2013
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in the coming weeks as they deal with the debt ceiling. also, those automatic cuts to defense and domestic spending. plenty more battles ahead over spending, shep. >> shepard: mike emanuel on the hill. the bill has passed and the president will sign it into law. two weeks after congress approved a separate measure to borrow $10 billion to flood insurance claims from sandy and other disasters. throughout the areas sandy hit hardest we are hearing stories of people growing increasingly frustrated in delays by getting money they need. >> the whole outside of the house was ripped apart with waves. >> the waves washed out 16 years of family mementos from this water front house on new york's long island. >> what you see is exactly how we found it after the hurricane. >> jane long-term says she will -- letterman says she will have to tear down the home she loved. two months after the storm she is still waiting for the insurance payment to get her started. >> this is a shame. it's just a shame that, you know, this had to happen. but the thing to d
in the coming weeks as they deal with the debt ceiling. also, those automatic cuts to defense and domestic spending. plenty more battles ahead over spending, shep. >> shepard: mike emanuel on the hill. the bill has passed and the president will sign it into law. two weeks after congress approved a separate measure to borrow $10 billion to flood insurance claims from sandy and other disasters. throughout the areas sandy hit hardest we are hearing stories of people growing increasingly...
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Jan 21, 2013
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coming up, will the debt ceiling debate delay your tax refund? next in the president obama has begun his second term by declaring the possibilities are limitless. our political panel takes a look at the next four years. ♪ >>> from our fox business studios in new york, here, again, is gerri willis. gerri: well, not wasting a second of the second term, president obama making it clear who is in charge the next four years laying out a bold agenda in the inaugural address. that's how i read it. with more, maryann marsh, a democratic strategist, and rich lawry, editor of "the national review. " what do you think of the speech? >> audacious. one, it was an unabashedly progressive speech, shorn of the pose that's characterized as rhetoric. it also, i think, was audacious in its appropriation of the tradition of the american foundings. it was a direct challenge to republicans and the tea party saying you are obsessed with the founders. you are wrong. i am the one firmly within the tradition, and you are outside the mainstream, and you better get on boar
coming up, will the debt ceiling debate delay your tax refund? next in the president obama has begun his second term by declaring the possibilities are limitless. our political panel takes a look at the next four years. ♪ >>> from our fox business studios in new york, here, again, is gerri willis. gerri: well, not wasting a second of the second term, president obama making it clear who is in charge the next four years laying out a bold agenda in the inaugural address. that's how i...